Excavators are the most widely financed machinery category in Australia, used across construction, civil, earthmoving, landscaping and a wide range of other industries. From 1.5-tonne mini excavators through to 100-tonne mining-spec machines, specialist lenders have strong appetite for excavator finance applications.
What Types of Excavators Can Be Financed?
- Mini excavators (1.5t to 8t)
- Midi excavators (8t to 15t)
- 20-tonne excavators
- 30-tonne excavators
- 50-tonne excavators
- 100-tonne and above (mining spec)
- Long-reach excavators
- Demolition spec excavators
- Amphibious excavators
- Zero-swing and compact excavators
Rates for Excavator Finance
Excavator finance rates range from 6.1 to 15 percent per annum. New excavators from dealers attract the lowest rates — typically 6.1 to 8 percent for prime applicants. Used excavators up to 10 years old: 7 to 10 percent. Older excavators (10 to 20-plus years): 9 to 15 percent depending on condition, hours and lender appetite. Mini excavators from established brands in good condition are strongly supported.
Excavator Brands We Finance
- Caterpillar excavators
- Komatsu excavators
- Hitachi excavators
- Volvo excavators
- Hyundai Construction Equipment excavators
- Kobelco excavators
- JCB excavators
- Kubota excavators
- Takeuchi excavators
- Yanmar excavators
- Develon excavators
- SANY excavators
- XCMG excavators
Low Doc Excavator Finance
Low doc excavator finance is available for ABN holders with 12 or more months registration. No tax returns required. Bank statements, ABN details and the excavator invoice or description are the standard documents. Approval within 24 to 48 hours for most straightforward applications. Excavators are a preferred security for many specialist lenders due to their strong resale market.
Can I Finance a Second-Hand Excavator?
Yes — second-hand excavators are one of the most actively financed assets in the specialist machinery market. Specialist lenders assess used excavators based on make, model, year, operating hours and condition rather than age alone. A well-maintained 10-year-old Caterpillar or Komatsu excavator with low hours is a better security than a poorly maintained newer machine.
Overdrive Funding compares excavator finance across 80-plus lenders. Get a free excavator finance quote for your specific machine.